BUENOS AIRES: Argentina's President Alberto Fernandez claimed that the South American nation's economic difficulties were the reason behind his cabinet's reorganisation.

"Sergio Massa has been called to the government team. His insight, ability, and expertise will enable us to continue developing the road map we've laid out "Late on Friday, the President stated in a tweet.

The three ministries of the economy, productive development, and agriculture, livestock, and fisheries were combined into one portfolio on Thursday by Fernandez, who appointed Massa, the current president of the Chamber of Deputies, to lead it.

He said, "What we have gone through as a nation and as a community in the last few months, and especially in the last few weeks, pushes us to have greater coordination, calling for a unified effort of the creative forces.

Silvina Batakis, who has served as the economy minister since July 4, was named the new president of the government-owned Bank of the Argentine Nation as part of the measures, and Daniel Scioli, who oversaw the ministry of productive development, will resume his duties at the Argentine Embassy in Brazil.

The Argentine currency PESO, which was quoted on Friday at 138.29 in the official market and 303 in the black market, has been depreciating against the US dollar since the beginning of July.

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